Infotech Lead America: CSC has posted revenues of $3.78 billion in Q3 2012 compared with $3.69 billion in the year ago period, up 2.8 percent.
The company divested its credit services business and certain businesses in Italy during the quarter.
“Our turnaround is tracking to plan. We are transitioning to our new operating model and we are aligning our assets with our strategy of leading the next generation of technology services and solutions. Our cost takeout initiatives are yielding results as demonstrated by higher profit margins in all three lines of business when compared with the prior year. As a result, we are raising our target for fiscal year 2013 EPS from continuing operations to $2.50 – $2.70,” said Mike Lawrie, president and CEO.
Lines of Business
Managed Services Sector (MSS) revenue decreased 3 percent to $1.62 billion.
Business Solutions & Services (BSS) revenue increased 28.7 percent to $0.85 billion.
North American Public Sector (NPS) revenue declined 2.8 percent to $1.34 billion. The reduction was primarily due to reductions in contracts from Civil agencies which were partially offset by revenue growth from Department of Defense contracts.